Clean Seas Tuna (CSS)

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Clean Seas Tuna
looked down for the count after its first attempt to commercially breed southern blue fin tuna in captivity failed but the stock has mounted a minor recovery. On February 26 its shares hit a record low 9¢ but have since rallied 108.8 per cent, putting on 46.2 per cent in the past five sessions. Earlier this month, it said its southern blue fin tuna broodstock had resumed spawning at its hatchery at Arno Bay, South Australia.

Last year Clean Seas successfully produced tuna fingerlings before aborting the process because they were not set up to start commercial breeding. The aquaculture company’s shares plunged 58 per cent last Friday as the company reported a $14 million half-year loss. It will not be making any more announcements in relation to spawning until the program has either been abandoned or is successful.